“Soaring Oil Prices”
Oil futures rose as high as $30.40 before falling back slightly in trading in London.
US President Bill Clinton said the rise was “deeply troubling” and refused to rule out any US action to deal with the situation.
I am in London at the moment. For the first time ever, Britain feels noticeably wealthier than America, and most of the extreme wealth seems not to be banking but oil related. I suspect the only truth in the term peak oil in the medium term will be the price which will surely come crashing down.
>I suspect the only truth in the term peak oil in the medium
>term will be the price which will surely come crashing down.
Really? I’m thinking we have exceeded supply with increasing demand, and we are now probably at the peak/plateu backed by geology. Don’t buy peak oil at all? What about T.Boone Pickens?
I believe that peak oil is accurate and that we are now past the point of peak oil. I understand many of the current events have to do with this understanding and it won’t be long before the main stream media and population wake up and understand what is going on. For me and my family, we are preparing for the life after the crash.